The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

I hope you had a good weekend, folks. Bitcoin is still consolidating just below its all-time highs as renewed optimism on tariff negotiations leaves the cryptocurrency poised for a potential breakout, according to analysts.

In today's newsletter, Arthur Hayes says it's time to "buy everything" as the U.S.-China trade war cools, the Trump-affiliated mining firm American Bitcoin plans to go public, Strategy and Metaplanet stack more bitcoin as the corporate accumulation race heats up, and more.

Meanwhile, spot crypto ETFs gain bipartisan support in South Korea's upcoming presidential election.

Let's get started.

Arthur Hayes says 'buy everything' as US-China trade war cools

Maelstrom CIO Arthur Hayes urged traders to "buy everything" as U.S.-China trade tensions cool.

Talks in Geneva over the weekend led to Beijing slashing U.S. tariffs to 10% from 125% and Washington cutting Chinese import duties to 30% from 145%.
Both cuts take effect from May 14 and will last for 90 days, per a White House statement on Monday, further improving the macro landscape after President Trump announced a trade deal with the UK last week.
The cryptocurrency market cap notched a modest rise before bitcoin and other digital assets turned negative for the day alongside gold, while traditional U.S. market indexes saw gains in early trading.
"For crypto, this reduction in trade tensions supports a risk-on environment," Dr. Kirill Kretov, senior automation expert at CoinPanel, told The Block. "Lower tariffs ease inflationary pressures and improve global liquidity conditions, both of which are typically bullish for bitcoin and other cryptocurrencies."
Dr. Sean Dawson, Head of Research at Derive.xyz, said bitcoin and digital assets look poised for upward price action throughout the rest of 2025, with ETH revisiting $4,000 and BTC aiming for $150,000 or even $200,000.

Trump-affiliated mining firm American Bitcoin to go public via Gryphon Digital merger

American Bitcoin, a subsidiary of bitcoin miner Hut 8 and the Trump family-backed American Data Centers, will go public via a merger with Gryphon Digital.

American Bitcoin shareholders will own about 98% of the merged entity, and Gryphon Digital 2%, while Hut 8 remains the exclusive bitcoin mining infrastructure partner.
The stock-for-stock transaction is expected to close as early as the third quarter of 2025, with the new company trading on Nasdaq under the ticker ABTC and continuing to operate under the American Bitcoin brand.
"This transaction marks the next step in scaling American Bitcoin as a purpose-built vehicle for low-cost bitcoin accumulation at scale," Hut 8 CEO Asher Genoot said.

Strategy and Metaplanet stack more bitcoin as corporate accumulation race heats up

As bitcoin treasury adoption spreads globally, corporate contenders are scaling up their stock and debt-funded plays, following the blueprint laid out by the Michael Saylor-founded firm formerly known as MicroStrategy.

Strategy itself ramped up its aggressive bitcoin buying spree last week, purchasing 13,390 BTC for around $1.3 billion, pushing its total holdings to 568,840 BTC — more than 2.7% of the total supply.
Metaplanet surpassed El Salvador's bitcoin stack as it also added 1,241 BTC ($126.7 million) to its treasury, reinforcing its goal to reach 10,000 BTC by the end of 2025 through bond-financed accumulation.
Meanwhile, David Bailey's holding company Nakamoto plans to merge with healthcare firm KindlyMD and raise $710 million to launch a bitcoin treasury strategy.

Global Dollar Network adds 19 new members in USDG stablecoin push

The Global Dollar Network, a stablecoin consortium co-founded by Paxos, Robinhood, Kraken, Anchorage Digital, Galaxy Digital, Bullish, and Nuvei, has added 19 new partners, including Zodia Custody, as it seeks to grow Solana-based USDG stablecoin adoption globally.

USDG offers partners a cut of reserve yield through a novel rewards model, setting it apart from traditional stablecoins that centralize profits, GDN said.
Issuer Paxos Digital Singapore says USDG, with a current supply of $285 million, is "substantively compliant" with upcoming Singapore regulations and plans to expand to other blockchains soon.
While U.S. stablecoin legislation remains stalled, major players like Visa are reportedly set to join GDN once regulatory clarity improves.

Bitcoin dominates global crypto fund weekly inflows as Sui outperforms altcoin products

Global crypto funds raked in $882 million last week, marking the fourth straight positive week, with year-to-date inflows now standing at $6.7 billion — nearing the $7.3 billion peak reached in February.

Bitcoin funds dominated the inflows, though Sui-based products outperformed major altcoins to attract $11.7 million last week — surpassing Solana year-to-date.
While ETH saw one of the largest price gains last week, rising a substantial 41.1%, according to The Block's prices page, Ethereum investment product inflows were relatively muted at just $1.5 million.

In the next 24 hours

U.S. CPI inflation data are released at 8:30 a.m. ET on Tuesday. Est. MoM 0.3%; Core 0.3%. Est. YoY 2.4%; Core 2.8%.
Bank of England Governor Andrew Bailey will speak at 11 a.m.
EigenLayer and WhiteBIT Coin are set for token unlocks.

Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.

Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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